Summary

Florida Attorney General James Uthmeier filed a lawsuit against Target, alleging that the retailer misled investors by promoting its diversity, equity, and inclusion initiatives.

The suit contends that Target’s previous DEI efforts, including its Pride month merchandise, sparked backlash that harmed sales and shareholder returns.

Uthmeier, appointed by Gov. Ron DeSantis, claims the company violated the Securities Exchange Act by failing to disclose the known risks associated with its DEI strategy.

He vowed to use the state’s legal power to challenge what he described as “offensive political theatre” and push for an America-first corporate agenda.